Congressman Russell Measure Advances With H.R. 3354, Saving 1.9 Billion
Washington, DC – Cost cutting legislation introduced by Congressman Steve Russell (OK-5) in March of this year moved forward with the passage of H.R. 3354, the Make America Secure and Prosperous Appropriations Act, saving the taxpayer more than 1.9 billion.
Congressman Russell has been working with the House Appropriations Committee to advance H.R. 1623, which terminates the Advanced Technology Vehicles Manufacturing (ATVM) program. ATVM is a loan program created in 2007 with the Energy Independence and Security Act to assist car manufacturers in producing more fuel-efficient passenger vehicles. Of the $25 billion appropriated, billions are left in the fund, and the last completed loan was issued in 2011. The Government Accountability Office reported in 2013 that participation in the ATVM program is more costly than it is beneficial to its participants. This is a fund that has gone unused for years, yet billions remain tied up for a failed program. With the elimination of this unnecessary waste, the ATVM program’s funding can be redirected to the Treasury.
In passing H.R. 3354 the House has taken an important first step in terminating the ATVM program, cutting more than 1.9 billion in wasteful government spending.